sebi:EAD-2/AO/143/2013
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Facts / Headnote
Charges not established; matter disposed of; Noticee exonerated
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 7
- Reg. 3
- Reg. 3(a)
Holding
The charges against the Noticee of violating Regulations 3(a), (b), (c), (d) and 4(1) & 4(2)(a) and (g) of the PFUTP Regulations and Clauses A(1), (3), (4) and (5) of the Code of Conduct under Schedule II of Regulation 7 of the Broker Regulations were not established, and the Noticee was exonerated.
Full text
Page 2 of 10 2. SEBI has, therefore, initiated adjudication proceedings under the SEBI Act, 1992 (hereinafter referred to as the ‘Act’) to inquire into and adjudge the alleged violations of the provisions mentioned under Regulations 3(a), (b), (c), (d) and 4(1) & 4(2)(a) and (g) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as PFUTP Regulations) and Clauses A(1), (3), (4) and (5) of the Code of Conduct as specified under Schedule II of Regulation 7 of the SEBI (Stock Brokers and Sub-brokers) Regulations, 1992 (hereinafter referred to as the Broker Regulations) against the Noticee for the allegations mentioned above.
Page 3 of 10 Vora, Director of the Noticee attended the said hearing and made oral submissions. They submitted that there are certain discrepancies in the trade log and order log pertaining to BSE and NSE provided to them along with the SCN and therefore, would be making a further detailed submission with regards to the said discrepancies. Accordingly, the Noticee, vide letter dated September 20, 2012 made detailed submissions.
Page 4 of 10 (a) buy, sell or otherwise deal in securities in a fraudulent manner; (b) use or employ, in connection with issue, purchase or sale of any security listed or proposed to be listed in a recognized stock exchange, any manipulative or deceptive device or contrivance in contravention of the provisions of the Act or the rules or the regulations made there under;
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Source: SecMarx — sebi:EAD-2/AO/143/2013. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.